Bermuda, May 17, 2023: Cool Company Ltd. (NYSE: CLCO / CLCO.OL, "CoolCo" or the
"Company") announced today that it has entered into a new time charter agreement
for one of its TFDE vessels starting early next year. The multiyear charter is
with an energy major and starts upon redelivery from the Vessel's current
charter. It will add back log through to 2027. 

"We are delighted to have secured this attractive time charter, locking in cover
at a rate that reflects the continued strength of the LNG carrier market " said
Richard Tyrrell, CEO of CoolCo. "The forward nature of this contract
demonstrates the desire of LNG producers, offtakers, and portfolio players to
secure modern tonnage to transport the dramatically increasing volumes of LNG
coming online through the middle and latter parts of the decade. With vessel
availability coinciding with seasonal peaks for chartering, CoolCo stands to
benefit from the ongoing LNG carrier re-pricing cycle. Happy Norwegian
Constitution Day to our investors"


About CoolCo

CoolCo is a growth-oriented owner, operator and manager of fuel-efficient
liquefied natural gas ("LNG") carriers. Using its integrated, in-house vessel
management platform, CoolCo provides charterers and third-party LNG vessel
owners with modern and flexible management and transportation solutions,
delivering a lesser-emitting form of energy that supports decarbonization
efforts, economic growth, energy security, and improvements in quality of life.
CoolCo intends to leverage its industry relationships to make further accretive
acquisitions of in-service LNGCs, and to selectively pursue newbuild
opportunities.

Additional information about CoolCo can be found at www.coolcoltd.com.

For further information, please contact:

ir@coolcoltd.com

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995, including statements with
respect to CoolCo's agreement for a time  charter of a vessel, including the
terms of the charter and addition to backlog, statements with respect to the
increasing volume of LNG coming online and industry players securing tonnage,
expected benefits to CoolCo and other non-historical statements. 
Forward-looking statements are typically identified by words or phrases, such as
"about", "believe," "expect," "plan," "goal," "target," "strategy," and similar
expressions or future or conditional verbs such as "may," "will," "should,"
"would," and "could." These statements are based on current expectations,
estimates, assumptions and projections and you should not place undue reliance
on them. Forward-looking statements do not guarantee future performance and
involve risks and uncertainties. These risks and uncertainties include risks
relating to this contract, future industry conditions and other risks indicated
in the risk factors included in CoolCo's Annual Report on Form 20-F for the year
ended December 31, 2022 and other filings with the U.S. Securities and Exchange
Commission. These forward-looking statements are made only as of the date of
this document. We do not undertake to update or revise the forward-looking
statements, whether as a result of new information, future events or otherwise.


This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities
Trading Act.

Cool Company Ltd.
Hamilton, Bermuda

Questions should be directed to:
c/o Cool Company Management Ltd - +44 207 659 1111

Richard Tyrrell - Chief Executive Officer	
John Boots - Chief Financial Officer